Thursday, August 8, 2024

This $12 Bourbon Is Pretty Good, and It Comes with a Story

 

Clark & Sheffield bourbon, $11.99/750 ml, 45% ABV.
The name "Clark & Sheffield" may mean something to you if you are a fan of the Chicago Cubs baseball team. Clark Street borders Wrigley Field to the west and Sheffield Avenue borders it on the east. 

So, what does that have to do with a $12 bourbon I picked up yesterday? Are the Cubs making bourbon now? 

I'll explain all that in a minute, but first, the whiskey.

Clark & Sheffield is the house brand for Binny's, the principal booze retailer in the Chicago region. On my visit yesterday, I also picked up a Clark & Sheffield Pinot Noir and a Clark & Sheffield Tawny Port. I've had good luck with the Clark & Sheffield brand. Good quality, good value.

This is my first time with the bourbon. It's good, a nice 90° proof and the lack of age statement means it is at least 4 years old. It's nothing special but is a perfectly good, standard bourbon. I was surprised, quite frankly. Not a thing wrong with it. For $12, it's a lot better than it needs to be. I could drink this all day.

Everybody these days seems to be chasing unicorns, bottles that sell for thousands on a shadowy secondary market. Or they want the latest "limited release," usually priced at $80 and up, if you can even find them at retail at the "suggested" retail price. Fine, if that's what you're into, but the Binny's I shopped yesterday (Portage Park, 4901 West Irving Park Road) had dozens of perfectly good bourbons and ryes for under $30, a few under $20, and at least one other tempter in the $12 range. The store was particularly well-stocked with Benchmark Bourbon, including the handle at $22.99. 

Why pay more? If all you want to do is drink good bourbon, it's still an inexpensive pastime. 

Binny's, of course, didn't make this whiskey. Who did? The label says "Distilled, aged, and bottled by the Founders Company, Louisville, KY." A quick trip to the web site of the Kentucky Secretary of State tells me the Founders Company is an assumed business name for Sazerac, whose two Kentucky distilleries are Buffalo Trace in Frankfort and Barton 1792 in Bardstown.

So, what's the story?

The founder of Binny's was Harold Binstein. He opened his first store in 1948, under the name Gold Standard Liquors, and the store's address was Clark & Sheffield. How is that possible? The ballpark, after all, has been there since 1914. 

It's possible because Clark Street is a diagonal. Wrigley is bordered on the east and west by Clark & Sheffield, with Addison Street its southern border. Binstein's Gold Standard was at the intersection of Clark & Sheffield, one block south of the ballpark. The original store burned down in the late 1960s, but was rebuilt and was there until recently, still operating as Gold Standard. It was relocated to make way for public transit construction.

Turns out, the shadow of Wrigley Field was a good place for a liquor store. From that single location in 1948, Binstein grew a chain, still called Gold Standard. They were mostly small stores, in neighborhoods like Wrigleyville. About 30 years ago they opened a "superstore," wanted to give it a different name, and used Harold Binstein's nickname, "Binny." At about the same time, they acquired two local, independent "superstores," Sam's and Zimmerman's. Today, Binny's is run by Harold's son, Michael. The family still owns it. Binny's now has 46 locations. Their slogan is, "If you can’t find it at Binny’s, it’s probably not worth drinking."

They're not wrong.

Although the Chicago Cubs and their owners, the Ricketts family, have nothing to do with the booze business, there is another Chicago sports connection that does. The Wirtz family, which owns the Chicago Blackhawks hockey team, also owns a big chunk of Breakthru Beverage, a leading North American beverage wholesaler.


Monday, August 5, 2024

Has the Next Great Whiskey Glut Begun?

 

Whiskey maturing in Kentucky.
Ever since the “bourbon boom” began, about 20 years ago, people have speculated about a future whiskey glut. Now, we have data.

Bernstein is a research firm that helps institutional investors manage their portfolios. Research firms like Bernstein release partial findings to the public when they have something newsworthy to report. 

In their most recent American whiskey analysis, as reported in Wine & Spirits Daily, Bernstein notes that current inventory levels in the wholesale and retail channels are higher than usual. The amount of whiskey aging in barrels is at historic highs, too. The 2022 inventory of 12.6 million barrels represents about 8.5 years of demand, a 150 percent increase over the previous decade. 

Berstein believes a significant excess supply of U.S. whiskey is likely over the next five years. If demand does not increase but remains where it is, supply will outstrip demand by 1.29 million barrels by 2028. 

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